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The fumaric acid market size is forecast to increase by USD 400.2 million at a CAGR of 7.44% between 2023 and 2028. The market is witnessing significant growth due to its increasing application in various industries, including paint, rubber, beverage, and convenience food. In the paint industry, fumaric acid is used as a corrosion inhibitor and an acidifier. In the rubber industry, it acts as a plasticizer and a stabilizer. The beverage industry, particularly in the production of wines and juices, utilizes fumaric acid as a food additive to enhance taste and improve the stability of the beverages. Moreover, the trend toward reducing carbon emissions and adhering to environmental regulations is driving the demand for bio-based fumaric acid. This eco-friendly alternative to petroleum-based fumaric acid is gaining popularity due to its sustainable production process and lower carbon footprint. However, the market faces challenges from substitutes such as citric acid and malic acid, which offer similar functionalities at lower prices. To remain competitive, market players must focus on innovation and differentiation to cater to evolving consumer preferences and regulatory requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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